"… When it is evening, ye say, It will be fair weather: for the sky is red. And in the morning, It will be foul weather to-day: for the sky is red and lowering. O ye hypocrites, ye can discern the face of the sky; but can ye not discern the signs of the times?" The Holy Bible
"Many a so-called wise economist ... had not studied past history enough to know that after the greatest advance in history had culminated … the greatest panic in history must follow ... " W. D. Gann

Sunday, October 30, 2016

Sunday roundup (10-30-2016)

Air quality worsens in Greece as recession bites: The ban on diesel cars in Athens and Thessaloniki has been lifted and the price of heating oil has tripled. Hard-pressed Greeks have turned to burning logs – and other things (The Guardian)

The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.